Mon, May 27

Kelp DAO Secures $9 Million in Private Sale to Enhance DeFi Restaking Solutions

The liquid restaking platform Kelp DAO has reached a significant milestone in its quest to improve the restaking landscape and decentralized finance (DeFi) by announcing the closing of a $9 million private sale round. The round was spearheaded by a $3.5 million investment from SCB Limited, a Bahamas-based proprietary trading business,

May 22, 2024 2 mins read

Solv Protocol Surpasses $1 Billion TVL, Ranks 32nd in DeFi

According to the DeFiLlama rankings, Solv Protocol, a unified yield and liquidity layer for prominent digital assets, has crossed $1 billion in Total Value Locked (TVL), solidifying its standing as the 32nd biggest decentralized finance (DeFi) protocol. Ryan, founder of Solv Protocol stated: “Reaching this significant milestone is a testament to the

May 22, 2024 1 min read

Court Approves Defunct Genesis Global’s $3 Billion Repayment Plan

The bankruptcy court has given the go-ahead for Genesis Global, a cryptocurrency lender, to repay its creditors with over $3 billion worth of cash and crypto. Digital Currency Group (DCG), the parent firm, will not be able to recover from its bankruptcy as a result of this ruling. On May

May 18, 2024 2 mins read

LayerZero Identifies Over 800K Potential Sybil Addresses

LayerZero Sybil has concluded the phase of self-report, where users could report fake or duplicate sybil addresses created to baffle the system. Initially, over 2 million addresses were suspected to be sybils, and it has been narrowed down to 803,093 after the completion of the phase. The self-reported address will

May 18, 2024 2 mins read

Sonne Finance Exploited of $20M, Hacker Initiates Stolen Funds Transfer

Approximately $20 million was lost due to an exploit that hit the decentralized lending protocol Sonne Finance on Wednesday morning in Asia. According to the project’s post-mortem analysis, an exploit was found in one of the Compound v2 forks. Using the known donation attack, the hacker was able to breach

May 15, 2024 2 mins read

CFTC Commissioner Highlights Concerns Over AI Risks in DeFi

Concerning the use of AI in the financial markets, particularly decentralized finance, Kristin Johnson of the Commodity Futures Trading Commission (CFTC) has suggested measures including increased fines. Johnson expressed her worries on artificial intelligence and its implications for deregulation of financial markets in a speech she gave at the Fintech

May 4, 2024 2 mins read

Turbos Finance Unveils Pioneering Liquidity Strategies on Sui Ecosystem

Within the Sui ecosystem, decentralized exchange Turbos Finance has announced the introduction of two innovative liquidity strategies. The strategies include a novel Auto-swap feature linked with Dollar-Cost Averaging (DCA) strategies for easier liquidity provision, and a Sui network-centric automated liquidity management vault for CLMM positions on the Turbos DEX. LPs will be able

May 3, 2024 2 mins read

Aave V4 Launch Set for 2025: What’s Outlined in the 2030 Roadmap?

DeFi lending protocol Aave announces its plan to release version 4 (V4) by mid-2025, proposing multiple upgrades through the ‘Aave 2030 Roadmap’ on Wednesday. Through V4, the protocol introduces a new “independent and abstracted” architecture to boost efficiency in managing liquidity, capital, and risks for users. To highlight, a ‘Unified

May 2, 2024 2 mins read

Lido Finance Hits Significant Milestone with One Million Validators

As the biggest decentralized finance (DeFi) protocol, Lido Finance has achieved one million Ethereum validators. The most liquid staking protocol on Ethereum, Lido Finance, revealed the milestone in a X post on April 29th. Staking becomes more accessible for retail customers with low funds using liquid staking protocols such as

April 30, 2024 1 min read